Dropbox raised its full-year 2026 revenue guidance to between $2.513 billion and $2.523 billion and lifted its non-GAAP operating margin target by 50 basis points to a range of 40.0% to 40.5%, while also announcing that co-CEO Ashraf Alkarmi will become sole CEO after a transition period. The company reported second-quarter revenue of $631.5 million, up 0.9% year-over-year, and added 96,000 paying users, its third consecutive quarter of paying user growth. Unlevered free cash flow reached $283.5 million, and the board authorized a new $900 million share repurchase program. For the third quarter, Dropbox guided revenue of $627 million to $630 million and a non-GAAP operating margin of approximately 38.5%. Management also raised its full-year unlevered free cash flow guidance to at or above $1.070 billion.
Dropbox IncRaised 2026 revenue and margin guidance, increased FCF guidance, and authorized $900M buyback.
